Like it or not, your credit score dictates everything from whether you're approved for the best credit card to what rate you're offered on a auto loan or mortgage. If you have a low credit card,
it's time to give that your credit score a boost. Here are some of the fastest ways to increase your credit score. Tips to fix poor credit & raise your FICO Score. It's important to check your credit report regularly to ensure that your personal information and financial accounts are being accurately reported and that no fraudulent accounts have been opened in your name.
Credit Score Boost
Repairing a bad credit or low credit is a bit like losing weight, It takes time and there is no quick way to fix a low credit score. Seeing any improvement in your credit score could take 30 to 60 days.
Check Your Free Credit Report
Credit score repair begins with your credit report. If you haven't already done so, request a
free copy of your credit report
and check it for errors. Your credit report contains the data used to calculate your credit score and may contain errors. Check to make sure that there are no late payments incorrectly listed for any of your accounts and that the amounts owed for each of your open accounts is correct.
If you find errors on any of your reports, dispute them with the credit bureau.
Pay your bills on time.
If you have missed payments, get current and stay current.
Late payments, even if only a few days late, and collections can have a major negative impact on your Credit Scores.
Credit reports contain information about your bill payment history, loans, current debt, and other financial information.
They show where you work and live and whether you've been sued, arrested, or filed for bankruptcy.
Credit reports help lenders decide whether or not to extend you credit or approve a auto or mortgage loan, and determine what interest rate they will charge you.
Prospective employers, insurers, auto loan & mortgage companies and rental property owners may also look at your credit report.
Paying off a collection account will not remove it from your credit report.
It will stay on your report for seven years.
Don't close unused credit cards as a short-term strategy to raise your scores.
If you have been managing credit for a short time, don't open a lot of new accounts too rapidly.